American Century Companies Inc. Buys 33,291 Shares of SmartRent, Inc. (NYSE:SMRT)

American Century Companies Inc. grew its position in shares of SmartRent, Inc. (NYSE:SMRT) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,379 shares of the company’s stock after purchasing an additional 33,291 shares during the period. American Century Companies Inc.’s holdings in SmartRent were worth $591,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SMRT. Rhumbline Advisers boosted its stake in SmartRent by 2.9% during the second quarter. Rhumbline Advisers now owns 273,810 shares of the company’s stock valued at $654,000 after buying an additional 7,597 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of SmartRent by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock worth $143,000 after acquiring an additional 8,169 shares in the last quarter. Blue Door Asset Management LLC boosted its position in shares of SmartRent by 0.5% during the 4th quarter. Blue Door Asset Management LLC now owns 3,125,581 shares of the company’s stock valued at $9,971,000 after acquiring an additional 16,150 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of SmartRent in the first quarter valued at $84,000. Finally, Legacy Capital Group California Inc. grew its holdings in shares of SmartRent by 104.3% in the second quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock valued at $169,000 after purchasing an additional 36,123 shares in the last quarter. 59.42% of the stock is owned by institutional investors.

SmartRent Stock Performance

SmartRent stock opened at $1.67 on Thursday. SmartRent, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $3.47. The company has a market capitalization of $337.05 million, a PE ratio of -11.28 and a beta of 1.97. The company has a 50 day moving average price of $1.74 and a 200-day moving average price of $2.21.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). SmartRent had a negative return on equity of 5.68% and a negative net margin of 10.73%. The business had revenue of $48.52 million for the quarter, compared to the consensus estimate of $51.33 million. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, analysts forecast that SmartRent, Inc. will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Frank Martell purchased 75,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $1.63 per share, for a total transaction of $122,250.00. Following the acquisition, the director now owns 150,000 shares of the company’s stock, valued at approximately $244,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Robyn Young acquired 14,793 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average price of $1.70 per share, with a total value of $25,148.10. Following the transaction, the chief marketing officer now directly owns 52,305 shares in the company, valued at $88,918.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Martell acquired 75,000 shares of SmartRent stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $1.63 per share, with a total value of $122,250.00. Following the purchase, the director now owns 150,000 shares in the company, valued at $244,500. The disclosure for this purchase can be found here. 9.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SMRT has been the subject of several recent research reports. Colliers Securities lowered SmartRent from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. DA Davidson lowered SmartRent from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $3.25 to $2.00 in a research note on Wednesday, July 31st. BTIG Research cut SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods lowered SmartRent from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $3.50 to $2.00 in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald downgraded SmartRent from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $4.00 to $2.00 in a research report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.64.

SmartRent Profile

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.